SunEdison to file for bankruptcy as early as Sunday night
16th April 2016
Solar energy company SunEdison Inc (SUNE.N) is preparing to file for bankruptcy as early as the evening of April 17, a person familiar with the matter said on Friday, nine months after its market value had reached $10 billion.
A SunEdison spokesman declined to comment.
Such a move would represent a fall from grace for the former darling of Wall Street and the renewable energy sector, whose rapid, debt-fueled expansion with solar and wind energy plants around the world proved unsustainable. The company’s market value as of Friday was $117 million.
Without heavy subsidies, ‘green power’ is unsustainable — and, quite often, even with heavy subsidies.